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Home My WebLink About2434 . ~ ~ ~ oti. ~ 4. That he will pay all taxes, assessments, water rates. and othe~ gove~nmental ~x munic~pal charges, (ines, o~ impositions, (or which provisirn has not been made hereinbe(ae, and in default thereo~t ihe mo•tgagee may pay the same; and that he will p~omptly deliver the of(icial ~eceipts thereto~ to the mongagee. S. That he will permit, commit, oc suffer no waste, impaitment, ot deterioration of said ptoperty ot any part ' thereof; and i~ the event of the tailure of the mortgago~ to keep lfie buildings on said premises ~and those tobe . erected on said p~emises, o~ imp~ovements the~eon, in goo~ cepaic, the mongagee may make s~,ch ~epeiis as in its ~ discretio~ it may deem nececsary [or the proper preservation the~eof, and the (uli amount of each a~d every such payment shall be immediately due and .payeble, and shall be secured by the lien of this mortgage. 6. That he will pay all and singular the costs. charges, aod expenses, including ~easonable lawyer's [ees. and costs ot abst~acts of title, incurced a paid at any time bythe moctgagee because of the Eailure ort the part of the mortgagor promptly and fully to per[orm the agreements and covenants of said promissory oote and this moct- gage, and said costs, chacges, and expenses shall be immediately due and payabte and shall be secuced by ihe lien of this mortgage. 7_ That he will keep the improvements now existiag oc herea[te~ erected on the mo~tgaged pcopetty. i~sured as mey be required from time to time by the moctgagee against loss by fire and othe~ hazards, casualties. and contin- ~ gencies in such amounts and for such periais as may be required by mo~tgagee. and will pay p~omptly. when due. any premiurt~s on such insurance for pay~nent ot which provision has not been made hereinbeEo~e. All insurance ` shall be carried in companies app~oved by mortgagee artd the policies and renewals thereof shall be held by mort- gagee and ha~•e attached theceto loss payable clauses in favor of and in form acceptable to the mortgagee. In e~•ent of loss he wilt give immediate notice by mait to moctgagee, and mortgagee may make proof of loss if not made promptly by mortgago~, and each insurance compans concerned is hereby authorized and directed to make papment Eoc such loss directly to mortgagee i~stead of to mortgagoc and mortgagee jointly. and the insurance pro- ceeds, or any part thereof, may be applied by meftgagee at its option eithe~ to the reduction of the indebtedness hereby secured or to the restoration or ~epair of the pcoperty damaged. lo evertt o[ foceclosure of this mortgage or other transter ot title to the mortgaged property in extinguishment of the indebtedness secured heceby, all right, title, and interest of the mortgago~ in and to any insurance policies then in force shall pass to tiie purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereaf for the appointment of a receiver, and such court shall (orthwith appoint a ceceiver of the Premises covered hereby all and singular, including all and singular the income, profits, issues. and cevenues from whatever ~ source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth end described in the granting and habendum clauses hereoE, and such receiver shall have all the broad and # effecti~e functions and pov?ers in anywise entrusted by a court to a receiver, and such aFpointment shall be made ; by such court as an adm~tted equity and a matter of absolute right to said mortgagee, and without refecence to the ! adequacy or inadequacy of the value of the propedy morigaged or to the sol~ency or insolvency of said mortgagor ~ or the defendents, and that such rents, proEits, income, issues, and revenues shall be apPlied by such receiver . according to the tien of th~s mortgage and the practice of such court. In the event of any default on the part of the mortgago~ hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for ' the pcemises an amount at least equivalent to one-twelfth (1!12) of the agg~egate oE the twelve monthly install- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and ~nsurance premiums for such y~ear not co~~ered by the aforesaid monthly payments. 9_ That !u~ in the e~•ent o[ any breach of this mortgage or default on the part of the mortgagor, or (6/ in the e~•ent that arty of said sums of money herein referred to be not promptly and fully paid without demand or notice. ~ or in the e~ent that each and every the stipulations, agreements, conditions_ and covenants of said ~ote and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum ~r.entioned in said no2e then remai~ing unpaid, with interest accrued to that time, and all moneys secured ~ hereb~, shall become due and payable forthwith, or thereafter, at the option of said matgugee, as Eully and com- ~ j pletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said ~ ~ note or in this mortgage to the contrary notwithstanding; and thereupon or there:~iter, at the option of said mcxtga- ' gee, aithout notice or d~mand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ ~ matuced prior to its institution. The modgagee may foreclose this mortgage, as to the amount so declared due and • ' ~ payable, and the said premises shall be sold to satisfy and pay the same together with costs, expenses,and allow- ' ances. In case of pertial foreclosure of this mortgage, the mortgaged Premises shall be sold subject to the con- tinuing lien of this mortgage for the amount oE the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of thereafter Erom time to time by the mortgagee. ~ 10. That the mortgagor will gi~•e ~mmediate notice by mail to the mortgagee of any conveyance, transfer, or ~ change of ownership of tNe p~emises. Il . That no wai~•er of any covenant herein or of the obligation secured hereby shall at any time thereatter be held to be a waiver of the t~rms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the co~•enants a agreements contained herein, or in said note, then the mortgagee may pecfor:n the same, and all expenditures (includ~ng reasonable attorney's fees) made by tFe ~ mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable , immediately and without demand b}• the mortgagor to the mortgagee, and, together with interest and costs accruing thereoa, shall be secured by this mortgage. 13. that the mailing ot a written notice or demandaddressed to the owner of ?ecord of the mortgaged premises, 1 or directed to the sa~d owner at the last address actually furn~shed to the mortgage~r, or directed to saido~rvner at ; sa~d mortgaged premises, and mailed b~ the United States mails, shall be sufficient notice and demand in any i case arising under this instrument and required by the pro~•isions hereof or by lav?~. ~ ~ 14. The mortgag~r further covenants that should this mortgage and the note secured hereby not be eligible ~ ~ Eor insurance under the Nati~al Housing Act within from the date hereof (written statemeat ~ oE any officer oE the Department of Nousing and Urban Development or authorized agent c~E the Secretary of Hous- ~ ing and Urban Development dated subsequent to the ~~Y~ time from the date of this mortgage, : ~ declining to insure said note and this mortgage, being deem•~ conc usive proof of such ineligibil~ty), the mortga- ' ~ gee or the holder d the note may, at its option, declare all sums secured be,~by immediately due and pa~b~e. ` ~ The covenant] hetein contaSned shall bind, and the dgng(its and advantages shall inure to, the respective he?rs, executors, administrators, successors, and assigns o( the parties hereto. {lhenever used, the singular num- ~ ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ ` ~ a~ 194 24~3 ~ ~ ~ - ~ . , ~ _ _ _ -